China ferrotungsten market continues to be quiet this week, and owing to the increasing raw materials’ offers, the ferrotungsten prices are firm. However, as the demand from the downstream industries remains weak, the trading volume is small in the spot market.

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The demand from the downstream markets remains weak, and the tungsten carbide powder market sees few deals been concluded. The tungsten carbide powder suppliers hold offers firm this week, and watch the market for a while.

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Chinese APT market runs slowly, and the market sees few deals been concluded. The APT prices are stable tentatively this week. Most of the APT market participants hold wait-and-see attitudes towards the future market.

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China tungsten carbide powder prices are stable at present, and the trading volume is small in the spot market. The demand from the downstream customers does not recover obviously, and it is expected that the tungsten carbide powder market will be quiet in a short time.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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There are fierce competitions in tungsten carbide market. Although tungsten carbide is still the main material for making cutting and mining tool, part of tungsten carbide’s application field face the danger of being replaced by adamas. Homogenization degree of tungsten carbide products is high among domestic manufacturers while technological level of domestic manufacturers is relatively low  compared with foreign counterparts. For the time being, it is still impossible to make large-size tungsten carbide product domestically except only small-size bars and boards. The technological gap won’t be filled in the short run.

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Colt Resources Inc. ("Colt" or the "Company")  is pleased to announce the execution of a binding letter of intent ("LOI") to purchase the property known as Passa Frio within the Company's recently awarded Tabuaço experimental mining license that includes the Tabuaço (São Pedro das Águias) and Aveleira tungsten deposits in northern Portugal, for the purposes of planning the Company's future mining operations. Passa Frio is mostly vacant land of approximately 1,000,000 m². The property was carefully selected after a thorough trade-off evaluation and review of several possible locations to establish the necessary surface mining infrastructure, namely the processing plant, dams, dumps and adjoining warehouses, and is zoned to permit such construction. The property is situated away from residential areas such that it is mostly unnoticeable from the surrounding roads and nearby villages.

Over the next months, the Company will survey the property in detail to verify legal title. The LOI locks up the property while the Company completes its survey. Following the survey, Colt has a three-year option to enter into a final purchase and sale agreement with the owners of Passa Frio. Colt will pay €100,000 for the three-year option and an additional €350,000 to purchase the property by the end of the third year should the Company decide to exercise the option to purchase Passa Frio.

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Canadian-based mineral-resource company Northcliff Resources Ltd. (TSX: NCF) released the results of a feasibility study this week for its Sisson Tungsten-Molybdenum Project, which elevated the undeveloped deposit to one of the largest tungsten deposits outside of China.Located in New Brunswick ,Canada, the deposit holds 334 million metric tons of proven and probable reserves containing 22.2 million metric tons of tungsten trioxide and 154.8 million pounds of molybdenum at a net smelter return of $8.83 per ton, the company said. The mine life stands at 27 years.

“This is a significant development for Atlantic Canada,” said Chris Zahovskis, president and chief executive officer of Northcliff. “The fact that this project contemplates building an ammonium paratungstate plant, which would represent the first such plant in Canada, and this plant certainly has the opportunity to add value to the project.“I think it has the opportunity to be catalyst for further economic growth in the province of New Brunswick, and I think that’s a very positive thing.”Zahovskis pointed out that China, responsible for over 80% of the world’s tungsten supply, has restricted the export of tungsten.

“China has already stopped exporting tungsten ores and tungsten concentrates for many years so that move is what caused the spike of tungsten prices running up from late 2010 through 2011,” Zahovskis said. “It peaked at a historic high of $470 per metric ton and that was in response to China being very honest and saying ‘hey look, we’re going to look after our domestic needs,’ and I’ve attended tungsten conferences where they reiterate that point.”

While China holds an abundance of tungsten that it will not export, there is still global demand for the metal.“So as a result, the rest of the world does need tungsten, most notably continents like Europe, North America and Japan  and they’re looking for somewhere to get long-term tungsten,” Zahovskis said. “So we think that having a deposit like Sisson, situated where it is, close to deep-water ports with good infrastructure, not only can supply that but is actually a strategic asset when you look at it in the long term.”

The company is moving toward beginning construction in 2014 and commissioning by 2016. It will be filing an Environmental Impact Assessment to both provincial and federal governments in the coming weeks.Northcliff is also actively soliciting interest from certain parties looking to become joint-venture partners.“For a company of our size, the capital build is significant, just under $600 million,” Zahovskis said. “It’s still modest by most mining standards I would say, but it’s a big number nonetheless for a company like Northcliff.”Zahovskis also sees positives coming out of discussions with banks in terms of financing.“There are other large tungsten projects that have secured or are in the process of securing financing,” Zahovskis said. “So we see that as a positive action because there is recognition that tungsten does have a bright future.”

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Aim-quoted multicommodity natural resources company Premier African Minerals on Monday said a recent exploration update from its flagship RHA tungsten project, in Zimbabwe, indicated the potential for development of a low-capital- and low-operating-cost mine in the near term.

A five-hole diamond drilling programme undertaken on site confirmed significant tungsten oxide values."This update has revealed significant tungsten mineralisation in the form of very coarse wolframite crystals hosted by quartz veins identified from drillhole intersections, and highlights the exceptional prospectivity of our RHA tungsten project,” Premier CEO George Roach said in a statement.

Drilling had also potentially uncovered three previously unknown, well-mineralised quartz veins in the existing lode system.Further low-cost surface trenching and sampling would be undertaken in the first quarter of the year to confirm the surface location and extent of the hanging wall lodes, with a South African Mineral Codes-compliant resource on target for completion within the first half of the year.

“In tandem with this, we are also completing a conceptual mine study, which will determine the most beneficial and cost-effective method of exploiting the known extent of the RHA deposit,” added Roach.The conceptual study would consider the possibility of early and low-cost production from the recently discovered outcropping mineralised quartz veins, as well as from existing tailings dams and dumps.

“Given the availability of water and power at the property, and the relative simplicity of the required processing plant, we believe we will be able to start development with a view to production potentially before the end of 2013," Roach advised.

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According to Xinjiang Mining committee, the biggest explosive equipment and mining service group Orica will be showing up in the third International Mining and Technological Equipment Exposition of Xinjiang on June 18th -20th 2013.

Important Tips:  The market of waste tungsten is slightly lagging behind and it is still in a buoyant atmosphere. The mentality of merchant  has not been weakening.Lower offer is continuing to move closer to the high level, it is acceptable for them. We expect that the waste tungsten market remains stable in the short-term.

The price of waste tungsten is stable and rising. The mainstream trading price of domestic waste tungsten blade concentrated in the 171-174 yuan / kg, which does not  have taxes.  imports blade 180-182 yuan / kg, scrap tungsten drill 190-192 yuan / kg, scrap pure tungsten blocks 210-214 yuan / kg, up 1-2 million. Scrap tungsten grinding material W content of more than 70 degrees  the mainstream transaction price of 1.76 yuan / kWh; 50-70 degrees 1.66 yuan / kWh; 30-50 degrees 1.5 yuan / kWh, steady.

Because the situation is not ideal, tungsten ore market  is gradually  stable, the enthusiasms of merchants shipping also increase. The market of waste tungsten is slightly lagging behind and it is still in a buoyant atmosphere. The mentality of merchant  has not been weakening.Lower offer is continuing to move closer to the high level, it is acceptable for them. We expect that the waste tungsten market remains stable in the short-term.

International markets, overseas  markets  of tungsten  are flatting to down. The evening  of March 8,2013 MB ​​Ferrotungsten quotes 39-39.5 U.S. dollars / kg of tungsten, the overall decline of Ferrotungsten is about 0.5 U.S. dollars; the ammonium paratungstate quotes 319.375-342.125 USD / metric ton, continue unchanged.



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